Latest Oil and gas exploration and extraction News

The Latest: Yemen rebels halting attacks on Saudi Arabia

Sep. 20, 2019 2:51 PM EDT

BUQAYQ, Saudi Arabia (AP) — The Latest on tensions in the Persian Gulf (all times local): 9:30 p.m. Yemen's Houthi rebels say they are halting all drone and ballistic missile attacks on Saudi Arabia and are waiting for a "positive response." The Iran-backed Houthis have claimed recent attacks on key Saudi...

Hezbollah tells Saudi Arabia to stop Yemen war

Sep. 20, 2019 1:30 PM EDT

BEIRUT (AP) — The leader of the Lebanese militant group Hezbollah on Friday called for Saudi Arabia to stop its war in Yemen, or else face more attacks on its soil. In a televised speech, Hassan Nasrallah warned Saudi Arabia and the United Arab Emirates not to incite war "because your houses are made of...

Major oil company plans 7 wells in Alaska petroleum reserve

Sep. 20, 2019 12:43 PM EDT

ANCHORAGE, Alaska (AP) — A major oil company will drill seven new exploratory wells in the National Petroleum Reserve-Alaska. ConocoPhillips is planning the work for this winter, the Alaska Journal of Commerce reported . The wells will be focused on the prospective Harpoon area southwest of the company's...

US says attack on Saudi oil site was an Iranian 'act of war'

Sep. 19, 2019 12:45 AM EDT

RIYADH, Saudi Arabia (AP) — U.S. Secretary of State Mike Pompeo on Wednesday called the attack on Saudi Arabia's oil installations an "act of war" against the kingdom by Iran, as the Saudis displayed missile and drone wreckage and cited other evidence they said shows the raid was "unquestionably sponsored...

Report: Cleanup of abandoned oil, gas wells could cost US

Sep. 18, 2019 7:49 PM EDT

BILLINGS, Mont. (AP) — U.S. taxpayers could face potentially hundreds of millions of dollars in cleanup costs from abandoned oil and gas wells on public lands, a government watchdog agency said Wednesday. The Government Accountability Office said in a report that it identified almost 2,300 wells that have...

A divided Fed reduces rates but may not cut again this year

Sep. 18, 2019 6:24 PM EDT

WASHINGTON (AP) — A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. The Fed's move reduced its key short-term rate — which influences many consumer and business loans — by...

Oil price drops for 2nd day despite heightened Gulf tensions

Sep. 18, 2019 5:10 PM EDT

NEW YORK (AP) — Oil prices retreated for a second day Wednesday even as the Saudi military blamed Iran for recent attacks to critical oil infrastructure and U.S. Secretary of State Mike Pompeo called the strike an "act of war." Benchmark U.S. crude fell 2% to close at $58.11 per barrel. It fell nearly 5.7%...

Niger seeks to step up oil production with pipeline to coast

Sep. 18, 2019 3:52 PM EDT

NIAMEY, Niger (AP) — Niger has started construction on an oil pipeline that will link it to the coast through West African neighbor Benin, a project that Niger's president said will bolster the country's economic development. President Issoufou Mahamadou called the 1,982 kilometer-long pipeline one of...

Nigerian women protest over apparent serial killings

Sep. 18, 2019 12:35 PM EDT

WARRI, Nigeria (AP) — Women in southern Nigeria marched in the streets on Wednesday to protest the deaths of several women in hotel rooms by what appears to be a serial killer. "Their killers must be found," the women chanted, many dressed in black for mourning, during the second day of protests in the...

Casualties in fight over new gas pipelines: The customers

Sep. 18, 2019 11:46 AM EDT

Chris Miles and his partners were ready to open their new seaside barbecue joint just in time for the summer season when they got stunning news: There would be no gas to fuel the fryers, griddles and stoves. National Grid, the utility that serves the Rockaway Beach section of Queens, refused to turn on natural...